NEW YORK, March 18, 2022 — The Oilfield Casing Spools Market share is expected to increase by USD 38.38 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.41%.
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The primary growth drivers for oilfield casing spools market is the increasing investments in upstream oil and gas operations and rise in global demand for oil and gas,” says a senior analyst for the Energy industry at Technavio.
One of the significant oilfield casing spools market trends that are projected to favorably impact the industry in the forecast period is the development of intelligent well-completion technology. However, the fluctuation in oil and gas prices will challenge the global oilfield casing spools market growth.
Oilfield Casing Spools Market Segment: Highlights for 2020
The oilfield casing spools market is expected to post a year-over-year growth rate of 6.16%. 44% of the growth will originate from North America. The market’s growth momentum will accelerate at a CAGR of 6.41%. The market share growth by the onshore segment will be significant during the forecast period
Regional Analysis
During the projection period, North America will account for 44% of the market’s growth. In North America, the United States and Canada are the most important markets for oilfield casing spools. The market in this region will increase at a quicker rate than the market in Europe. The considerable increase in E and P of crude oil and gas resources is likely to prompt operations such as well drilling and completion, facilitating the expansion of the oilfield casing spools market in North America throughout the forecast period. To know about Report Detailed Analysis and Insights, Download free Sample Report.
Notes:
The oilfield casing spools market size is expected to accelerate at a CAGR of 6.41% during the forecast period. The research report offers information on several market vendors, including Apache Pressure Products, Baker Hughes Co., Delta Corp., Jiangsu HongFei Petroleum Machinery Manufacturing Co. Ltd, Jiangsu Jinshi Machinery Group Co. Ltd., Kingsa Industries (USA) Inc., MSP Drilex Inc., Parveen Industries Pvt. Ltd., Sakward Oilfield Manufacturing Co. Ltd., Schlumberger Ltd., Sentry Wellhead Systems LLC, Shaanxi FYPE Rigid Machinery Co. Ltd., Sunrise Exports International, TechnipFMC Plc, Tiger Valve Co., UZTEL SA, Worldwide Oilfield Machine, Xian Tiptop Machinery Co. Ltd., Yantai Jereh Oilfield Services Group Co. Ltd., and Yulin Machinery Corp. The oilfield casing spools market is segmented Application (Onshore and Offshore) and Geography (North America, APAC, Europe, Middle East, Africa, and South America). The market is fragmented due to the presence of many established vendors holding significant market share.
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